Analysts said that investors were not concerned Trump would be removed from office and therefore not worried about the economic impact of the impeachment proceedings.
Although recent indicators have stoked fear of a weakening U.S. economy, investors aren't worried that the impeachment inquiry against President Donald Trump will tank markets.spoke with 20 economists about whether the impeachment proceedings would spook investors and how markets would respond during the process.
While Trump's removal from office would create tumult among the indices, 10 explicitly said investors thought that Trump will be impeached. But the economists also overwhelmingly indicated that investors are not currently focused on the impeachment proceedings and didn't think Trump would be removed from office by the Senate.
"Most importantly, the stock market follows economic fundamentals," Mickey Levy, Chief Economist for Americas and Asia at. The"stock market rallied during Clinton's proceedings as [the] economy boomed; it fell hard during Nixon proceeding as [the] economy was in deepening recession following oil price shock. [The] market understands that impeachment will not affect policies and will not result in [the] Senate voting to remove Trump from office.
The House's vote would have political implications for the 2020 election. But it wouldn't lead to Trump's removal from office; the Republican-controlled Senate holds the duty to convict. Republicans have largely banded together to depict the calls for impeachment as an unjustified political attack, based on an ongoing Democratic effort to undo the 2016 election.
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